Who are gig workers? What labour practices can be adopted for gig workers working in gig economy? Explain with the help of suitable examples.

Q: Labor Output Number of workers) (Shovels) 80 2 150 3 210 4 250 270 e blue points (circle symbal) to…

A: Marginal Product Line (MPL) Labor  Output MPL 0 0 ------ 1 80 80 2 150 70 3 210 60 4…

Q: EXPLAIN the reason of increasing returns to a factor

A: # The increasing returns to a factor is the first phase of law of variable proportion. It is…

Q: What is meant by an inferior factor of production? How would the firm’s demand for labour be altered…

A: In economic representations, factors of production can be described as inputs that are utilized for…

Q: Bottom of Form XYZ restaurant sells donuts at $2 per unit. It uses 5 units of capital and employs…

A: K L Q MPL VMPL 5 0 0 --- --- 5 1 50 50 100 5 2 125 75 150 5 3 225 100 200           VMPL…

Q: Suppose a hole can be dug in one hour with a small shovel and in half an hour with a large shovel.…

A: Iso-Quant Curve (Equal Product Curve) -:…

Q: Calculate MPP and MRP in table below. The price of the product price is $6. Must show work. Labor Q…

A: The marginal physical product is the additional total product or output that can be produced by…

Q: Give typing answer with explanation and conclusion  If quasi-fixed labour costs are very high,…

A: Quasi fixed labor costs are partially fixed and partially variable. Quasi fixed labor cost remains…

Q: Please help

A: Production technologies or production function defines a relationship between the output and inputs.…

Q: The term market failure refers to Select one: O a. a market that fails to allocate resources…

A:

Q: true or false The marginal revenue product of labor is the extra revenue associated with the last…

A: False A marginal revenue product (MRP) is defined as the market value having an one additional…

Q: Explain efficiency wage theory    Only typed solution

A: The objective of the question is to understand the concept of efficiency wage theory in economics.

Q: Many US based companies rely on labor from low-wage countries. Identify a company that uses labor…

A: Macroeconomics is a sub-part of economics that is used to understand, the policies and fiscal…

Q: If MPL=.5 and the wage rate is 20 when 5 units of output re being produced, what is the marginal…

A: Marginal Product of Labor (MPL) refers to the additional output produced by an additional unit of…

Q: The above graph shows some isoprofit lines. Use the above graph to show how L* would change if…

A: Isoprofit Curves are defined as curves that consist of amounts of labor and its output which gives…

Q: Table 18-7 Number of Marginal Product Value of Marginal Marginal Workers Output of Labor Product of…

A: Marginal product of labor refers to change in total product with change in labour input.

Q: Kevin, a worker in Volcania, can produce 182 baskets of Peaches in a(n) 11-hour shift. Calculate…

A: Labor productivity refers to the concept used to calculate the worker’s efficiency. It is estimated…

Q: How is the value of marginal product of labor (VMPL) defined? a.Price of output multiplied by the…

A: the marginal product of labour (MPL) is the change in the output due to one additional worker/labour…

Q: Look at the diagram below. Let's assume that aggregate demand declines and a recession occurs, which…

A: The recession refers to the economic condition where aggregate demand declines and decline in the…

Q: Labor (workers per day) Total Product (per day) 10 4000 11 4389 12 4752 13 5083 14 5376 15 5625 The…

A:

Q: What is the output of the 8th worker? Group of answer choices: 0 -10 10 5

A: The marginal product(MP) for the nth unit of labor is the increase in the total output(TP) for an…

Q: Explain efficiency wage theory  Only typed solution

A: The objective of this question is to understand the concept of efficiency wage theory in economics.

Q: If there are diminishing returns to labor, then as more workers are hired the total amount produced…

A: The law of diminishing return to scale implies that as the number of a variable input is raised…

Q: Following is information on the production levels of three different firms. Firm A is currently…

A: a. The returns to the factors of production used indicate the level of operation of the firms in the…

Q: Complete the following labor supply table for a firm hiring labor competitively: Total Labor Cost…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…